Goodbye, 1 Sen.November 14, 2007
Starting 1st April of next year, the Malaysian Government will begin ‘Operation Round-Up’ in all goods for sale, which means, there will be no RM48.99 or RM53.67 anymore, but RM49.00 and RM53.65 respectively.
The Rounding Mechanism only applies to the total amount of a bill and not on individual items . In the Rounding Mechanism exercise, the total amount of a bill inclusive of tax, which ends in 1, 2, 6 and 7 sen will be rounded downwards to the nearest multiple of 5 sen while the total bill which ends in 3, 4, 8 and 9 sen will be rounded upwards.
Which means if your bill is RM69.93 you have to pay RM69.95, for RM2.99 pay RM3.00, for RM57.22 pay RM57.20 and so on. Apparently this is to reduce the making of the one sen coin, which is made out of copper. This can help reduce the ‘unnecessary costs’ of copper. The one sen coin will still be in use though.
Ah well. We’ll just have to calculate everytime we buy something and hope it falls in the ‘1-2′ and ‘6-7′ cents category.